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Let's analyse IMXUSDT fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.
TECHNICAL ANALYSIS:
IMX has recently broken out of a symmetrical triangle pattern on the daily chart, suggesting a strong bullish trend. The price is currently trading above the crucial 200-day Exponential Moving Average (EMA), indicating a long-term uptrend. A significant increase in trading volume is expected to further fuel the rally. Additionally, a bullish crossover in the Moving Average Convergence Divergence (MACD) indicator confirms the positive momentum.
Key Level:
Entry: Current Market Price (CMP) to $1.56 (Dollar-Cost Averaging)
Potential Targets:
A potential 5-6x return from the entry point.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyse IMXUSDT fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.
TECHNICAL ANALYSIS:
IMX has recently broken out of a symmetrical triangle pattern on the daily chart, suggesting a strong bullish trend. The price is currently trading above the crucial 200-day Exponential Moving Average (EMA), indicating a long-term uptrend. A significant increase in trading volume is expected to further fuel the rally. Additionally, a bullish crossover in the Moving Average Convergence Divergence (MACD) indicator confirms the positive momentum.
Key Level:
Entry: Current Market Price (CMP) to $1.56 (Dollar-Cost Averaging)
Potential Targets:
A potential 5-6x return from the entry point.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.